BlackBerry sale may be wrapped up as soon as November: WSJ

Reuters Staff

1 Min Read

(Reuters) - BlackBerry Ltd’s board hopes to run a “fast” auction process that could result in a sale of the company by November, the Wall Street Journal said, citing people familiar with the matter on Wednesday.

A Blackberry Z10 smartphone is held up in Pasadena, California July 8, 2013. REUTERS/Mario Anzuoni

A special committee of board members has narrowed its list of potential bidders since the company put itself up for sale in August, and is now pushing for quick resolution, the newspaper said.

Microsoft’s deal to take over Nokia’s devices business revived optimism that the smartphone maker, which is bleeding market share to Apple Inc and Samsung Electronics Co Ltd, can also unearth a willing buyer. Its shares closed up 5.3 percent on the Nasdaq and 5 percent in Toronto on Wednesday.